Shares of Alcoa Corp. (NYSE:AA) have been assigned an average recommendation of “Buy” from the twenty ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $40.42.
Several research analysts recently issued reports on the company. Zacks Investment Research upgraded Alcoa Corp. from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Thursday. BMO Capital Markets lifted their price objective on Alcoa Corp. from $4.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday. Deutsche Bank AG upgraded Alcoa Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.00 to $60.00 in a research report on Tuesday. Macquarie assumed coverage on Alcoa Corp. in a research report on Thursday, September 7th. They set an “outperform” rating for the company. Finally, Credit Suisse Group assumed coverage on Alcoa Corp. in a research report on Wednesday, August 9th. They set a “neutral” rating and a $42.00 price objective for the company.
Alcoa Corp. (NYSE:AA) traded down 0.33% during midday trading on Wednesday, hitting $44.65. The stock had a trading volume of 5,441,558 shares. The stock has a 50-day moving average price of $44.59 and a 200 day moving average price of $40.86. The firm has a market cap of $8.23 billion and a P/E ratio of 50.80. Alcoa Corp. has a 12-month low of $20.00 and a 12-month high of $45.20.
Alcoa Corp. (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Alcoa Corp. had a return on equity of 3.29% and a net margin of 1.63%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, equities analysts anticipate that Alcoa Corp. will post $2.92 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Alcoa Corp. (AA) Receives $44.46 Consensus Target Price from Brokerages” was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://www.chaffeybreeze.com/2017/09/16/alcoa-corp-aa-receives-44-46-consensus-target-price-from-brokerages.html.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd grew its stake in shares of Alcoa Corp. by 55.5% during the 2nd quarter. WINTON GROUP Ltd now owns 33,950 shares of the industrial products company’s stock valued at $1,108,000 after buying an additional 12,111 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Alcoa Corp. by 26.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 74,910 shares of the industrial products company’s stock valued at $2,446,000 after buying an additional 15,790 shares during the period. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Alcoa Corp. during the 2nd quarter valued at $11,846,000. California State Teachers Retirement System grew its stake in shares of Alcoa Corp. by 13.7% during the 2nd quarter. California State Teachers Retirement System now owns 341,520 shares of the industrial products company’s stock valued at $11,151,000 after buying an additional 41,261 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Alcoa Corp. by 0.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 104 shares during the period.
Alcoa Corp. Company Profile
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
Receive News & Ratings for Alcoa Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa Corp. and related companies with MarketBeat.com's FREE daily email newsletter.